Most pure public goods like lighthouses, dams, or national defense provide utility mainly by insuring against hazardous events. Our paper focuses on this insurance character of public goods. As for private actions against hazardous events, one can distinguish between self-insurance (SI) and...

Many public goods like lighthouses and fire departments do not provide direct utility but act as insurance devices against shipwreck and destruction. They either diminish the size and/or the probability of the loss. We extend the public good model with this insurance aspect and generalize...

Volunteering plays a prominent role in the charitable provision of goods and services, yet we know relatively little about why people engage in such prosocial acts. The list of possible motivations is long, but recent research has focused on altruism, reputational concerns, and material...